Upgrad LLM

capital gain on benefit on..........


BY APPLYING COST INFLATION INDEX WE ARRIVE AT THE CURRENT PRICE OF AN OLD ASSET WHICH IS FOR SALE.

FLAT BOUGHT IN 1990     RS 1.65 LACKS

VALUE AS ON DATE AFTER APPLYING COST INFLATION  RS.5 LACS APPROX.

HOWEVER,MINIMUM PRICE FOR WHICH STAMP DUTY HAS TO BE PAID RS.10.LACS

AMOUNT AGREED TO BE REGISTERED RS.12 LACS

WHAT WILL BE MY CAPITAL GAIN AMOUNT.....   WHETHER  RS. 7 LACS(12 LACS -5 LACS) OR

RS. 2 LACK(12 LACS - 10 LACS)

 
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Advocate

The Amount of Capital Gains will be & lakhs and NOT 2 Lakhs. The Higher of the registration value or the registered value will be considered. Refer S.50C of the Income Tax Act, 1961 for complete details

 
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Thank u Mr Vishal.

 
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